Discounted Rate Mortgages

Discounted Rate Mortgages

Discounted Rate Mortgages - Discounted rate mortgages feature an interest rate that is discounted from the lender’s standard variable rate. Discounted rate mortgages, as a result of being dependent on the lender’s standard variable rate, are not guaranteed to follow the movements of the Bank of England base rate. Lenders adjust their standard variable rates based a range of criteria including market conditions and base rate. As a result of the lender offering a discount over an agreed period of time ranging between the initial two to ten years. There may be penalties associated with overpayments during the discount period.

Discounted rate mortgages do offer the advantage of liberating cash in the first few years of moving into a property, when it is most often needed. Some lenders also cap the top rate of their discounted rate mortgages at a certain level, enabling borrowers to budget more effectively.

With years of experience arranging discounted rate mortgages, our specialist team can assist clients in securing packages that are tailored to their needs. As a comprehensive panel of lenders broker, we are able to offer an impartial service. We work closely lenders from all corners of the market and our clients to try to ensure that our clients have arranged a deal which is both cost effective and convenient.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 77 100 400 or Enquire Online.

Give our experts a call. They are willing to help you find the best discounted rate mortgages.

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